Wipro (WIT) Scheduled to Post Earnings on Friday

Wipro (NYSE:WITGet Rating) will issue its quarterly earnings data before the market opens on Friday, April 29th. Analysts expect the company to announce earnings of $0.08 per share for the quarter.

NYSE:WIT opened at $6.76 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.27 and a current ratio of 2.27. The stock has a market cap of $36.95 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.45 and a beta of 0.78. The business has a fifty day moving average of $7.51 and a 200-day moving average of $8.34. Wipro has a 1 year low of $6.74 and a 1 year high of $9.96.

The company also recently disclosed a dividend, which was paid on Wednesday, April 6th. Stockholders of record on Wednesday, April 6th were issued a $0.059 dividend. This is a positive change from Wipro’s previous dividend of $0.02. The ex-dividend date of this dividend was Tuesday, April 5th. Wipro’s dividend payout ratio is 24.14%.

Several brokerages have recently weighed in on WIT. CLSA upgraded Wipro from an “underperform” rating to an “outperform” rating in a report on Monday, February 21st. Jefferies Financial Group raised Wipro from an “underperform” rating to a “hold” rating and reduced their target price for the company from $8.55 to $7.70 in a report on Friday, February 4th. StockNews.com initiated coverage on Wipro in a report on Thursday, March 31st. They set a “hold” rating for the company. Macquarie initiated coverage on Wipro in a report on Monday, April 11th. They set a “neutral” rating for the company. Finally, Zacks Investment Research downgraded Wipro from a “hold” rating to a “sell” rating in a report on Friday, April 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.31.

Hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC increased its position in Wipro by 2.7% in the 4th quarter. Parametric Portfolio Associates LLC now owns 3,658,456 shares of the information technology services provider’s stock worth $35,707,000 after purchasing an additional 96,166 shares during the last quarter. Deutsche Bank AG increased its position in Wipro by 3.8% in the 4th quarter. Deutsche Bank AG now owns 2,518,243 shares of the information technology services provider’s stock worth $24,578,000 after purchasing an additional 92,865 shares during the last quarter. Morgan Stanley increased its position in Wipro by 14.7% in the 2nd quarter. Morgan Stanley now owns 2,996,833 shares of the information technology services provider’s stock worth $23,406,000 after purchasing an additional 383,499 shares during the last quarter. Invesco Ltd. raised its stake in shares of Wipro by 3.7% in the 4th quarter. Invesco Ltd. now owns 237,586 shares of the information technology services provider’s stock valued at $2,319,000 after acquiring an additional 8,535 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Wipro by 26.0% in the 2nd quarter. Wells Fargo & Company MN now owns 188,787 shares of the information technology services provider’s stock worth $1,475,000 after purchasing an additional 38,988 shares during the last quarter. 2.30% of the stock is currently owned by institutional investors.

Wipro Company Profile (Get Rating)

Wipro Limited operates as information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure, analytics, business process, research and development, and hardware and software design services to enterprises.

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Earnings History for Wipro (NYSE:WIT)

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